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Council budget for the year ahead is agreed

22 February 2024
SBC Logo at 1140 x 720

SBC Logo at 1140 x 720

Stockton-on-Tees Borough Council's budget for 2024/25 has been approved at a meeting of full Council on Wednesday (February 21).

The Council's Medium Term Financial Plan (MTFP) for the next three years was also agreed at the meeting.

This follows on from promises the authority remains "strong" and "ambitious", despite uncertain future funding streams.

Work has already begun to aim to make savings of £9million across the organisation with the recently-introduced 'Powering our Future' programme.

A Council Tax increase of 4.95 per cent, with 2.95 per cent on core Council services and 2 per cent on the Government's adult social care levy, was agreed.

This is in line with the increase that has been assumed in the Government's spending power calculation.

Councillor Bob Cook, Leader of Stockton-on-Tees Borough Council, said: "We know that we need to make changes to the way we work, which is why the 'Powering our Future' work is up and running across the Council.

"Thanks to our good financial planning we are still in a strong position and this is backed up by the findings of external auditors, but future funding streams remain very uncertain due to rising demand for services, rising inflation and one-year funding settlements.

"Despite challenging times ahead, we are confident we can reshape what we do for the better and work alongside our partners and communities to bring better services for our residents. 

"There remains a lot of exciting work going on right across the Borough, which is of course such a great place to live, work and play."

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